Sweden’s H2 Green Steel Raises €1.5 Billion for First Metals Plant
- Construction has already begun at site in Northern Sweden
- Final invesement decision could be taken in next 2-3 months
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Sweden’s H2 Green Steel AB raised €1.5 billion ($1.6 billion) of equity to help finance the world’s first large-scale green steel plant and a giga-scale electrolyzer that will supply the site with hydrogen.
The private placement, which the firm says is the largest this year in Europe, was co-led by French hydrogen investor Hy24, together with existing investors including Altor Equity Partners AB and Just Climate, H2GS said in a statement on Thursday. Kinnevik AB, Vargas Holding AB, the Wallenberg family were among those that also bought shares, as well as Swedish pension funds.